""People shouldn't have to choose between great taste and staying within their budget," said PepsiCo's U.S. Foods CEO Rachel Ferdinando in a statement ahead of the price decrease."
"In four years, the price of a 14.5 ounce 'party size' Doritos bag at Walmart skyrocketed to $5.94 from $3.98 in 2021-nearly a 50% increase, Bloomberg reported citing data from Attain."
"Frito-Lay's net revenue shot up 13% between 2020 and 2021, and another 9% between 2021 and 2022, according to filings with the Securities and Exchange Commission."
Frito-Lay, a subsidiary of PepsiCo, is reducing prices of its chip products by 15% due to declining consumer demand and significant price increases over recent years. The company's market value has dropped by $50 billion since 2023, largely due to rising prices that have made products like Doritos and Lay's less affordable. Despite Frito-Lay's dominance in the U.S. salty snacks market, the pandemic-era price hikes have led to consumer pushback. The price of a 14.5 ounce Doritos bag increased nearly 50% from 2021 to 2024.
Read at Fortune
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